Latest posts by Jim Johnston (see all)
- Price Controls, Whether For Labor Or Housing, Don’t Work - July 9, 2014
- Adding Economics to the Immigration Debate - May 20, 2014
- Encrypt Everything! - February 3, 2014
Energy future includes vast deposits of natural gas from shale. Hydraulic fracturing is used to free the gas from the shale rock. It now appears that oil can be recovered from shale as well.
In an article from The New York Times, Daniel Yergin of IHS CERA claims:
“This is very big and it’s coming on very fast … ‘tight rock’ fields that now produce about half a million barrels of oil a day will produce up to three million barrels daily by 2020 … this is like adding another Venezuela of Kuwait by 2020, except these tight oil fields are in the United States.”